Lucas Oil Founder Scores Deal On Hilbert Mansion

Forrest Lucas Buys Long-Vacant Carmel Estate

The businessman who owns the naming rights to Lucas Oil Stadium on Wednesday bought the 25,000-square-foot Carmel mansion that once belonged to Conseco founder Steve Hilbert.

Lucas Oil Products Inc. founder and Indiana native Forrest Lucas announced the deal Wednesday following a sealed-bid auction, 6News' Tanya Spencer reported.

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Lucas said he paid $3 million in cash for the 33-acre estate. The property was once valued at $30 million, but failed to sell at $9.9 million last year.

"We weren't looking (to buy), just like with the Colts. We weren't looking to sponsor an NFL stadium. It just happened. It was kind of the same with this," Lucas said.

Built in 1993, the estate features a 25,000-square-foot mansion, 15,000-square-foot sports center, including a full-size replica of Indiana University's Assembly Hall basketball court, guest house, catering facilities and power plant.

Lucas said he and his wife plan to use the mansion, which he plans to rename Lucas Estate, for Colts functions, corporate events and some personal use.

The couple have four other homes, including one larger than the former Hilbert estate.

Hilbert is the founder and ex-chairman of Conseco insurance company. He lost ownership of the estate to pay debts to the company, now named CNO Financial.